CTG pays 220.3 mln euros to keep stake in EDP at 21.47 pct

China Three Gorges Corp. (CTG) has paid 220.3 million euros (about US$260.8 million) for 66.7 million more shares in Energias de Portugal SA (EDP), which the Portuguese electricity company is issuing to raise capital, EDP announced on Wednesday.

EDP told the Euronext Lisbon stock exchange regulator that CTG exercised on Monday the right of first refusal and paid 3.3 euros per each new share.

Chinese state-owned CTG, already the biggest single shareholder in EDP, now holds 851.7 million shares in the company, maintaining a stake of 21.47 percent, the EDP announcement says.

Last month a Portuguese news website, Notícias ao Minuto, said EDP intended to raise an extra 1 one billion euros in capital to finance its purchase of Spanish power company Viesgo.